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and broadening opportunity for the middle class is shrinking our deficits in a balanced and responsible way. and for nearly two years now, i've been fighting for such a plan -- one that would reduce our deficits by $4 trillion over the next decade, which would stabilize our debt and our deficit in a sustainable way for the next decade. that would be enough not only to stop the growth of our debt relative to the size of our economy, but it would make it manageable so it doesn't crowd out the investments we need to make in people and education and job training and science and medical research -- all the things that help us grow. now, step by step, we've made progress towards that goal. over the past two years, i've signed into law about $1.4 trillion in spending cuts. two weeks ago, i signed into law more than $600 billion in new revenue by making sure the wealthiest americans begin to pay their fair share. when you add the money that we'll save in interest payments on the debt, all together that adds up to a total of about $2.5 trillion in deficit reduction over the past two years -- not cou
industry and manufacturing. the second on deficit reform, and the third on improving government performance. the participants here today include brookings scholars, outside experts, and private sector representatives and leaders. our discussions will reflect a lot of the research that goes on here at brookings, and you will be able to find a number of examples of that research outside the auditorium where you came in. my recommended particular, the work of our metropolitan program on ideas on how to revitalize manufacturing, and also the work of art government studies program on how to make innovation-based economy. the growth through innovation project is an example of what we're doing increasingly here at brookings, and that is undertaking both research and public events and outreach that draw from multiple programs of research pro-guns here at the institution. and we have three of our research programs represented here today. the growth through innovation project is led inside a brookings by darrell west of our government studies program, bruce katz, of our metropolitan program of our ec
and deficits. less than two hours, the house will vote on a sandy relief bill that could deliver $51 billion in aid. but earlier today house republicans tried and failed to pass an amendment to the sandy relief bill that would give the money only if it were offset with spending cuts. they were saying no relief aid unless programs are cut back. 157 republicans voted for these offsets. they supported the amendment which would have killed the $50 million sandy relief package. how on earth did we get here? this is money sitting in washington to help our fellow americans get their lives back together. how can we explain the efforts to not help people? joining me now, congressman mick melvani. congressman, first of all, thanks for being here again. >> it's always a pleasure. thanks very much for having me. >> now, how can you talk about spending when americans are so desperate for help, congressman? >> well, it's pretty simple. because in your introduction you said the money was just sitting here in washington. and it's not. it's actually sitting in china. and we're going to have to go and borrow
of savings from spending on health care and revenues from closing loopholes, we consult the deficit issue without sacrificing our investments in things like education that are going to help us grow. it turns out the american people agree with me. they listened to an entire year's debate over this issue, and they made a clear decision about the approach they prefer. they do not think it is fair to ask a senior to pay more for his or her health care or a scientist to shut down like that saving research so that a multi millionaire investor can take less in tax rates then a second trip -- and a secretary. they do not think it is smart to protect and as corporate loopholes and tax breaks for the wealthiest americans rather than rebuild roads and schools or help manufacturers bring jobs back to america. they want us to get our books in order in a balanced way where everyone pulls their weight, everyone does their part. that is what i want as well. that is what i have proposed. we can get it done, but we're going to have to make sure people are looking at this irresponsible way, rather than just
if it is called, then it has to face the economic tasked with value facing 20% and a huge fiscal deficit thanks to the patronage of the last year than you are going to start to see a lot of the chickens come home to roost and see it break apart. this is very similar after -- basically he was forced to engage in a austerity package around 1952 until 55 and that is what basically got him kicked out. and then of course after 1944 he died and you begin to see that internal battle, then you begin to see diffraction happening but not until -- >> that is a perfect segue because i want to bring it back to russell for the question. we talked about politics and about constitution, institutions. we talked about the economy although we've alluded to this aspect to it let me ask you to take off your journalist hat and put on your markets have and ask a simple question is venezuela going to buy, sell or hold? >> i think what we are going to see in the short term is a great deal of turmoil to reverse of markets -- capital flees some certainty. so, right now you have on uncertainty because nobody knows what's
to tax and spend to the congress, and the congress alone. our current deficit is the result of money congress has already borrowed. president obama explained to the american people today how republicans in congress are trying to avoid doing their actual jobs. >> these are bills that have already been racked up. and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they've already racked up. >> if the american people do not catch on to the severity of all of this, of defaulting on our debts, the country will be in a dire situation. president obama knows this. he believes it. he has proved it before. and he is not going to play games with economic stability. >> so we've got to pay our bills. and republicans in congress have two choices here. they can act responsibly and pay america's bills, or they can act irresponsibly and put america through another economic crisis. but they will not collect a ransom in exchange for not c
you the deficit. but the actual debt payment, are less than 90 cents on the dollar that we take in. so even if the president as he should should pays our debts, that leaves him with 90 cents on every dollar that comes in to fund the other priorities of government and he wants to threaten not to pay that debt service. i think that's irresponsible of the president to be suggesting default on the debt. we ought to be talking about a bipartisan solution to the spending problem that got us here in the first place. >> i have heard talk in the republican conference about a one or two or three month extension on the debt ceiling. and on a continuing resolution for the budget to run the government. is that one to three month solution not still on the table? >> well, larry, we're proposing a number of different solution, both short term and long term. frankly, president obama needs to start rolling up his sleeves and focusing on both instead of sitting over in the white house and kind of throwing out all the threats to everybody across the country and running around campaigning as if he's still
's not a quote median-term deficit reduction plan put in place. what will it take to get a deal? we start with dan gross. his latest piece is titled "obama brinksmanship puts gop in tough spot on debt ceiling." so dan, you write that while you fall off a cliff, you only bump your head in to a ceiling but economically the ceiling has the capacity to deliver far more damage. you are talking like my friend steve kornacki here. what is failing to raise the debt ceiling? why is that going to be catastrophic? >> well, you know, first of all the stock and bond markets will really go haywire in a way they didn't when we were about to go over the fiscal cliff because government bonds are held by everybody. chinese central bank, japanese central bank, every single bank financial institution out there. so if there's any question over the value of those and they start to decline, these institutions have a great amount of leverage and interconnected with everything else and sort of see what happened in 2008. it's also this issue of, you know, who gets paid? if you start to have to say maybe soldiers g
and debt payments from lower deficits, as a spending cut. that's a dubious claim. number three, obama is counting a nearly 1 trillion dollar savings from more money than nobody expected to be spent anyway, now that the war in iraq is over and the afghanistan war is winding down. so, obama's entire premise that we need a balanced approach to cutting the deficit is based on a huge fiction which is that obama's plan will cut 4 trillion during the the next decade. it will do no such thing. he's basing on a falsity, just like day one when he's been in office, distort and pr propgandize. now, republicans need to understand all of this dealing with obama. they're dealing with a man who is reckless, ruthless as any president they will ever encounter and my next guest says he has a plan that mr. bolster the republicans hand when it comes to dealing with the democrats on the issue of debt and much more. ohio senator rob portman is here. and what do you make of obama, only 2006 a vote against the debt ceiling. >> it went further than that. he said it would be unpatriotic. >> sean: that's another
proclaimed his state's huge budget deficit had disappeared. but some politicians in the golden state are skeptical. newshour correspondent spencer michels sat down with brown in san francisco. his report is a co-production with our colleagues at kqed-san francisco, and begins with some background on the fiscal troubles and the budget fix. >> reporter: california's sorry financial state and cuts made to health and welfare programs have prompted nearly nonstop demonstrations at the state capital in recent times. those protests got going four years ago when california and its then governor republican arnold schwarzenegger faced a staggering budget deficit of $42 billion. the recession, built-in spending, a large population in need of state services like health and welfare, a limit on property taxes, plus republican legislators' refusal to raise taxes created a dilemma in the world's ninth largest economy. with budget cuts coming like clock work, the state's college and university systems declined in offerings and in reputation. schools suffered cutbacks in personnel and programs. servic
years ago. four years ago we had a 500 million dollar budget deficit, that would affect services for people all over san francisco; we would have to pay more for services and have services cut; where we needed it most. i felt the first year as chair of the budget committee, i learned so much about my abilities and how to make difficult stands on issues, and how to have working relationships with people going forward. i work closely with the mayor's office and with organizations across the city. in spite of difficult choices i feel i made the right choices; i always voted with my conscience and i'm proud of that. i'm excited to see the changes happening in district 11. four years ago we were really shaken hard by the high level of violence and homicides in our district. what was great to see in district 11 were places where there was a focus of some of the violence; neighbors came together and made the neighborhood stronger, particularly around athens street, you have a beautiful community garden there, at athens and avalon that will be dedicated in a couple of weeks no
is if there's no change over the next couple of decades, deficits will rise, debt to gdp ratios will rise and our debt would not be sustainable. very important objective for policy is to find a plan to bring the federal budget under control over the next few decades. the second issue, which in some ways seems contradictory to the first, is that we are still in a relatively fragile recovery and we want to avoid taking fiscal action that will push the economy back into recession. that was one of the risks that the fiscal cliff posed. the challenge is to achieve long run sustainability without unduly hampering the recovery which we have. the deal that was struck together with the previous work in 2011 that involved some spending cuts made some progress in both of these goals. sustainability still abil over the decade we have seen improvement in the debt to gdp ratio. there's more work to be done, but some progress there. and in the short run, the fiscal cliff deal on new year's eliminated a good bit of the restrictive components of the fiscal policy that would have had such adverse effects.
to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they've already racked up. they even entertained the idea of this happening, of the united states of america not paying its bills is irresponsible. it's absurd. republicans in congress have two choices here. they can act responsibly and pay america's bills, or they can act irresponsibly and put america through another economic crisis. but they will not collect ransom in exchange for not crashing the american economy. the financial well-being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. >> as you would expect, republicans quick to respond. senate minority leader mitch mcconnell said in part the president and his allies need to get serious about spending, and the debt-limit debate is the perfect time for it. republican congresswoman marsha blackburn of tennessee took it a step further, suggesting her party was ready for a government shutdown. >> we're going to look
the money and the interest payments on the debt, that adds up to about $2.5 trillion in deficit reduction over the past two years, not counting the $400 billion saved from winding down the wars in iraq and afghanistan. so we have made progress. >> didn't president clinton say it was all about math? republicans can >> they know the truth. listen to john boehner two years ago. >> do you agree that defaulting on the full faith and credit of the united states would be a financial disaster? >> that would be a financial disaster for our country and the worldwide country. >> oh, financial disaster. apparently this is not a game. timothy geithner says that we will hit the debt limit between mid february and early march. the financial security of millions of americans is at stake. >> if congressional republicans refuse to pay america's bills on time, social security checks and veterans benefits will be delayed. we might not be able to pay our troops or honor or contracts. food inspectors, air traffic controllers, specialists wouldn't get paychecks. investors around the world will ask the united st
s. >> while i'm willing to find middle ground to reduce our deficits, america cannot afford another debate. not paying its bills is irresponsible. it's absurd. republicans in congress have two choices here. they can act responsibly and pay america's bills or they can act irresponsibly and put america through another economic crisis. but they will not collect or ransom in exchange for not crashing the america economy. the financial well-being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. >> you know, it looks like republicans are up against another wall. but they're not going to be able to get -- they're not going to be able to get, quite frankly, some things they really want, if they're serious, are important. spending issues. but this is -- he's got them again. >> here's the problem with the republican party being owned by extremists on issues not related to the debt. let me tell you something, the president of the united states, it's laughable that he would talk about republicans not being res
in nearly the past three years, and the whole fiasco added to the deficit. host: after the news conference yesterday, house speaker john boehner responded with this statement -- " what are your thoughts on this? if the debt ceiling negotiable. some quick comments -- remember, you can post your comments on twitter. the first phone call is from maryland, a democratic caller, jill. caller: i don't believe the debt ceiling is negotiable. it is kind of ridiculous that the money is already owed, so why are we not going to pay what is owed to other people? if people have made investments, the bills have to be paid. i find it ridiculous that people in congress don't want to pay what is already owed. it does not make sense. host: here is the wall street journal this morning. caller: well, if you're asking me if that's true, i think there definitely needs to be somewhat of a compromise as far as spending cuts, but that is not an easy issue, because spending cuts mean job losses. it's not an easy thing to say a president will say we will stop paying the bills too. so there has to be compromised rehab
, gives the government the ability to pay its existing bills. it doesn't create new deficits, it doesn't create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit rating saying, i know how we can save money, we won't pay our credit card bills. not the most effective way to improve your credit rating. >> the metaphors, jim, whether it's a family not paying the credit card bills, the president saying it's like dining and dashing at a restaurant, the only thing is we've got two weeks of respite and then we're off to the races again. >> after the civil war, there was tremendous partisanship in this country. a tumultuous time. the level of bipartisanship. there's such hatred that you can't get in a room. it never seems like obama gets in the room. biden got in the room beforehand. but look, everybody hates each other down there. it's exactly the opposite of what you would expect from a respected nation. it makes us look mickey mouse. i don't blame fitch. look, we have to pay bills, the constitution says it, but everybody doesn't seem
'd never use the debt ceiling to negotiate. there's been three or four deficit deals reached during debt ceiling negotiations. that's what they've been used for in the past. in fact, you voted no on raising the debt ceiling in 2006, and some other things. and then to see him actually, he looked shocked that his loyal cadre of acolytes that someone would actually broach the subject that, you know, that he actually had a tough time answering. >> i think it shows the position he's in, though. he gets attacked from the right and the left. >> he doesn't get attack. the questions i want asked are never asked of him anywhere. >> he should come on "squawk." >> that's not going to happen. >> i'll get out. is that possible? >> no. >> i had a story but we'll talk about that one later. >> what's your story? >> we'll do it later in the broadcast. >> about nerds? >> what else would it be about? you want me to talk to here? i'm going to talk to here. coming up this morning's top stories, plus we're going to hop behind the wheel with nissan ceo carlos ghosn at the detroit auto show. first check this out
to cut down a dangerous deficit. why can't anyone in dc come to the table with a simple obvious proposal? >> obama: if we combine a balanced package of savings from spending on healthcare and revenues from closing loopholes we can solve the deficit issue. >> john: joining me now is wahini varra, california politics reporter for the wall street journal. thank you for your time tonight. >> thank you. >> does that mean that he's doing things right? >> he had decent approving ratings after a while. but after this effort to pass taxes, his approval ratings went up. he's more popular now than he has ever been in california, a little bit surprisingly. >> when you consider all the negative stereotypes that we heard groaning up. when i was growing up he was governor moon beam, and how unbalanced he was, quite the opposite of now. governor brown did a whole lot of cutting, are the people of california glossing over that? >> i think they may be. the most recent thing that happened was that californians raised taxes after jerry brown passed it. it's been in the news. that's what people are aware of.
to address our fiscal problems of this country. the deficits that are mounting, but no one is talking about the cost of amnesty. when it was considered by congress in 2007 the cost of have been over two and a half trillion dollars because all those illegal aliens become eligible for food stamps, medicaid or medicare, social security, unemployment insurance it here and all that, that was pre obamacare, so now i will be even more. this is the last time we should be talking about anesty because we cannot afford it. the taxpayers in the pain for the demint to the benefits for the illegal aliens or legalized eligible for welfare benefits. that is the hidden element. the other thing it is not being talked about will be in this going to slow this down is unemployment. 78 percent unemployment. the people underemployed. why in the world would we choose now to give legal status to 11 million illegal aliens so they can more effectively compete against unemployed americans. gerri: marshall, a smack in the eye of organized labor? because here you write a lot to bring in all these new workers. the very p
to do to reduce the budget deficits and also deal with the trade deficits, but even more importantly, what do we do to create an environment where businesses can grow and we can expand economic development? because this is still a very, very fragile expansion, though it is a expansion from probably the deepest recession we've ever been in wince the depression. a lot of pent-up demand, so i think this debate is centered on the right thing, what do we do to create an environment where businesses can grow. >> if we need and if republicans argue that what needs to be done is to cut the deficit, they need to perhaps go into default, are you okay with that? ivities illustrates well again i think we need to look at that time it through the lens of economy development. anything to slow this expansion down would have very, very serious consequences to all of us. >> let me ask you about your announcement last week. you were going to hire engineers, computer programmers. last year you announced to add 12,000 jobs by 2015. given everything that's going on, how confident are you that you'll still
to see him as the paragon of responsible spending. >> we'll start with the deficit, shrinking more rapidly than at any time since the end of the korean war. in the end of december, we had a deficit for the month of $260 million, not $260 billion, $260 million. which in washington is almost the budget. that's the smallest monthly deficit in five years. some of that is artificial. people pulling transactions forward because they were afraid of higher tax rates in 2013. but for the first three months of 2013, we have a rapidly shrinking fiscal 2013, we have a rapidly shrinking deficit. so we are in a way chasing a vanishing problem. >> which is interesting, and that would allow for some things that are dirty and things that are not so dirty, would completely perhaps get rid of this problem after a while. do you think we're headed for a full stalemate? >> it's such a shame. i think david is right because we have low debt service right now. we're paying less interest on our debt than we had in the reagan and bush administrations before because interest rates are so low. >> but they're g
. on the newshour tonight, we'll examine what the president said about tackling the government deficit and reducing gun violence. >> brown: then, we turn to the west african nation of mali, where french troops have launched air strikes on islamic militants. three jihaddist groups now deemed a clear and present danger to the capital and beyond, a threat to africa and europe. >> woodruff: margaret warner has the story of the suicide of a young internet wizard who was facing federal charges for hacking and distributing online data he thought should be made public. >> brown: ray suarez updates the changes in cuba, where travel restrictions were eased today for citizens hoping to come and go. >> it is still one of the most repressive places in terms of its human rights record but we welcome any liberalization. we hope that will turn out to be one such. >> woodruff: and with rehearsals already under way for next week's inaugural ceremonies, we examine the new rules for raising money for the festivities. >> brown: that's all ahead on tonight's newshour. >> major funding for the pbs newshour has been provi
into the deficit and pay off the debt. >> you know what i didn't like today. i thought it was annoying, he may have to slow down social security payments if-- and tell you why, there's never any suggestion maybe congress shouldn't be paid salaries, the senate not be paid salaries, the president not be paid salaries, cut down on air force one. your constituent payment to go home on commercial aircraft, instead stay here and save money on travel and get the job done. there's any discussion of the politicians to take the hit it's the social security recipients. >> he wants to use the military paycheck to try to scare people and hurt the elderly. you don't have to do that, there's revenue to the treasury on a daily basis. the problem is we deficit spend about 3 to 4 billion dollars a day. we collect, we spend about 10 billion a day and that means that we deficit. we have to borrow 3 to 4 billion dollars a day. we spend more than 700 million dollars a day in interest on a national debt. there are lots of things to do. the president has lots of discretion to curb back that spending to make sure that soci
'll be able to start making invests to see our economy grow. the one silver bullet in deficit reduction is economic growth. we need to get out of this circle we're in right now and start talking about growth. how we start moving the economy forward because we'll never get out of the hole otherwise. melissa: stephen, that is a great point. do you move the economy forward and grow by raising taxes, do you think. >> president obama at one point believed we do not. he argued in twine and 2010 you would hurt economic growth if you raised taxes at time the economy was struggling. that is what he argued at time. melissa: what do you think, steven. raising taxes grows the economy or -- >> no, it does not grow the economy. we have to be serious how much the president contributed to overall debt picture. $6 trillion since he came to office. nearly $20,000 per united states citizen has been added since president obama came into office. so just silly to argue he hasn't contributed. melissa: blame game gets us nowhere because everybody contributed to it. god it is a mess and we have to fix it. when
the deficit. so you have to open the door to private investment to do this job of rebuilding the power platform in the united states. >> host: and the technology aspect of that is? >> guest: technology aspect is manifold. and price performance improves every 18-24 mocks. in the last year we have gotten into the innovation cycle in batteries so by the end of 2020 electric vehicles will actually be price competitive with grass-driven cars. the problem with these things is that we can't wait. we can't wait because of the environmental effects and we can't wait because we need the economy to grow quickly right now. so the book lays out a whole bunch of different ideas for bringing private investment much more quickly into the job of rebuilding the power grid. >> host: on this show, a series on the international power plant, and he doesn't necessarily agree that the internet is completely green or is terribly green. what is your thought? >> guest: he is right about that. people say that data centers in the united states account for 2% of all electricity consumption. if it isn't exactly that
can't finish the job of deficit reduction through spending cuts alone. simply put, the president got his tax increases in the last congress. it's time for this congress to tackle washington's spending bing. i'd like to recognize the gentlelady from indiana. >> mr. chairman, my message otoday is simple. on too many big items, congress has been kicking the can down the road for years. it's time to supply real leadership on the most pressing challenges we face. this is the only way we can restore trust in congress. we're fast approaching a dead end. the social security trust fund will be bankrupt in 20 years. medicare and medicaid are not on a sustainable path. it is wrong for us to make proppingses to the american people we know we cannot keep. ms. brooks: we must address the drivers of our debt, medicare, medicaid, an social security. not because these programs don't have merit and certainly not because seniors currently benefiting from them don't deserve with they've been promised. because real leadership isn't about making the easy choice, it's about maybing the right choice. social
that with the government facing another trillion dollar deficit this year, any increase in borrowing authority must be tied to cuts in spending. the president flatly disagreed. >> i want to be clear about this. the debt ceiling is not a question of authorizing more spending. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they've already racked up. >> brown: the 2011 stand-off between the president and republicans over the debt ceiling led the nation to the bryning of national default. standard and poors even lowered its rating on u.s. government bonds. today, president obama said any repeat performance would be, quote, irresponsible. >> if the goal is to make sure that we are being responsible about our debt and our deficit, if that's the conversation we're having, i'm happy to have that conversation. what i will not do is to have that negotiation with a gun at the head of the american people. >> brown: at the same time, the president rejected urgings by some de
are looking for more deficit reduction, a bigger deal, not a big deal, he's willing to go pretty far for a democrat on entitlements. >> i think the president is laying out some rather tough negotiating territory or maybe nonnegotiating territory ght now to see where republicans in congress are willing to do, and if they will budge a little bit. right now it seems like we are both testing whether each side intend toth budge. we've been through that process many times here in the obama presidenciment looks like another round as well. >> rose: and for most of this hour conversation with the foreign minister of pakistan hina rabbani khar. >> i think pakistan today presents a country which is very clear notice head how it operate with its neighbors and that is to try and build on the trust and then build that trust enough to be able to build a environment in i we can take care of the disputes we have on the dialogue table rather than through military statements and through military actions. >> rose: its president's last press conference of his first term, and the foreign minister of pakis
approach to cutting the deficit and huge fiction which in a plan will cut $4 trilin in the next decade, it will do no such thing. he is basing his argument on a falsehood which is what he's done is lie, distort. and what this showed us is that obama in the second term is going to be worse than obama in the first term. what we saw in one hour was the worst of our president on display. and republicans, they need to understand all of this dealing with obama. a man reckless, ruthless, and any president they will ever encounter. my next guess says he has a plan that will bolster the republicans plan. ohio senator is with us, how are you? >> great. >> sean: first, what do you make obama? only 2006 vote against the debt ceiling. now? >> he said would it be unpatriotic to vote to. >> sean: that is another thing. very that clip. do you want to see it? >> sure, it will be fun. >> sean: let's show the videotape. >> the problem is the way bush has done it over eight years is to take out a credit card from bank of china in the name of our children, driving up our national debt from $5 trillion for
solving the real problem, our massive deficit and debt. he's got some ideas coming up in an interview you'll see right here only on the "closing bell." stay with us. if you think running a restaurant is hard, try running four. fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. >>> welcome back. the 401(k) is everywhere, and you might think everybody is saving for retirement through it. many people are not doing that at all. a new study shows one in four
or the highway either. we have a huge spending deficit problem. they were considering for well over a week the notion of just mint inging a trillion dollar c and calling it good. the federal reserve said that's phony. that doesn't work. and the treasury department on saturday said okay, you are right. we won't go that route. we need serious proposals from the president and it is not just the congress. it is -- we got to work together to solve the country's problems. >> let me -- let me split off debt limit here. are you willing to do the debt limit on its own without any -- president say he's not going to negotiate, are you willing to pass a clean debt limit? >> you know, i think passing a clean debt limit is problematic for the american people as well as for the congress and the country. i think that we should find common ground here to look at spending reforms for the long term to gettous a path to reducing debt and deficit. i think we should look at current spending reductions that could take place and in ways we can grow the economy. i would like to see us work together on this matter
look at this spending and our trillion dollar deficit, they want to know where all the money goes, not just over a million dollars, and this amendment would take one step to providing transparency and accountability. so i ask this committee add the amendment, and i'd also file two amendments that would have needed waivers. these seek to ensure that local governments are not violating the second amendment right office law abiding citizens. and then number 60 would require certification by the secretary of homeland security that no recipients were receiving funds if they were agent acting actinn contravention to the law preventing gun con confiscation. when guns were improperly confiscated after hurricane katrina, congress passed a law to prevent this from happening in the future. in the state legislature in kansas, i led the effort to pass similar legislation. i have submitted revised amend 68 that would ensure that no funds are used under this bill in violation of the second amendment rights following katrina. my office cleared this language with the parliamentarian's office. many
requiring our retirement related on bli investigations. >> critics say california would still have a deficit. >> if making payments we needed to pay for benefits, we'd be $9 billion in the hole. so the only way you can show we're not is by ignoring he's obligation autos the brown administration says ate dresses problems just not as fast as critics with like because there is only so much money and the state has more pressing needs. >> we're paying it down on a schedule basis, holding a line on spending. and we believe we've got a proven road map. >> the analyst has concerns about how schools are being given money that is an initiative to make campuses more energy efficient. being counted as part of per pupil spending. >> we've raised concerns over whether it meets language of prop 39. >> both agree that state budget could be turned upside down as soon as next n month if california receives less money from feds as a result of the negotiations in washington, d.c.. live in sacramento abc 7 news. >> thank you. >> former president bush left the hospital in texas today after bet battling illness. b
the budget deficit but not in exchange for increasing the debt ceiling. the u.s. government has reached a borrowing limit set by law but republicans continue to reject an increase without spending cuts in social security and other programs. now it's not the first time the u.s. has faced such a stand off. in the summer of 2011 the government and coness mained at odds over raising the limit until the last minute. the incident weighed down on share prices. it also prompted the first downgrade on u.s. government bonds. global car makers are showcasing their latest model at the 2013 international auto show in detroit. more than 50 new models are on display. the u.s. automarket has been recovering with sales rising more than 13% from the previous year. japanese automakers are focusing on fuel efficient compact cars that are gaining popularity. toyota is introducing a new streamline model in an effort to attract young u.s. car makers including ford and general motors are showcasing small cars as well as small vehicles like pickup truck. pickup truck have been avoided by consumer until now but
billion dollars deficit; that is a quarter of the size today. what the pension reform, america's cup, construction cranes along the city, we passed -- when our founding fathers set up our democratic system of government they envision that the legislative branch would not be neat and tidy. it is messy. we balance the community's interest as we meet the challenges today. we still have a lot of work to do. this morning i was almost late to supervisor breed's swearing-in. my bike lights got stolen, then the muny bus was late, and i had trouble catching a cab. together we have much to do. i have literally dozens of friends who have moved from the city after they found a lifelong partner, had a baby, and decided they could not afford to live in the city. together we have to do better at reversing families like and making sure that everyone who wants to gets to live in san francisco. we still have too many young people who are not graduating from high school; too many young people who did not have jobs; too many young people who are being killed on our streets. together we c
in spending in exchange for raising the borrowing limit. he says trimming the budget deficit should be a different discussion. >> to even entertain the idea of this happening, of the united states of america not paying its bills, is irresponsible. >> house speaker john boehner responded to this by saying the american people do not support raising the debt ceiling without reducing government spending at the same time. you can see the battle lines there very clearly. are you in hawaii or headed there? think twice. beware of getting in the water. check out this video. that's right, sharks near oahu's yokohama beach, two sharks were spotted swimming very, very dangerously close to the shore. i hope that guy's feet are not in the water. >> wow, that is super shallow. >> if steve stockman was serious he would have mentioned secession. secession is the line -- >> that's so old. >> i'm just saying. >> don't open any can of worms when i need to go to a break. >>> polls are showing more americans support tougher gun control laws. is there any common ground in washington, d.c.? we'll talk with
billion deficit to a balanced budget-- offers a lesson for the nation. . >> you have to make tough choices. you have to live within your means. that means you have to not do everything you want to but you also have to raise more
, and the president is saying things like not to worry about the deficit. that is really for the proletarian, the more pedestrian takers among master of the deficit, the sustainable that. this is abject non says that he is doing, and he is being hailed by the national liberal media as some sort of -- some sort of articulation. >> i am one of those who is in the center, a supporter of the bowls' simpson planned and i agree with your characterization the problem is, you are offering a countervailing you. the republicans, with all due respect, are not. there is not an alternative narrative, not pushing the president to negotiate, and he is not talking to anybody. lou: i love this comment. the president saying of the second amendment is not whether we believe in the second member not. you have to literally hear this to believe it. but. >> the issue here is not whether or not we believe in the second amendment. the issue is, are there sensible steps that we can take to make sure that somebody like the individual in newtown cannot walk into a school and gun down a bunch of children. i am confident there are
on the table. >> ironically would probably increase our deficit. it is absurd. >> the president won't back down on the debt ceiling or on gun safety. >> the pressing issue of gun reform. >> exactly one month after the tragedy at sandy hook. >> if there is a step we can take that will save even one child we should take that step. >> gun violence continues to wreak its deadly toll each day. >> this is a moment to act. >> congress is incapable of passing an assault weapon ban. >> everybody is totally upset by it. >> what makes sense? what works? >> this is a moment to act. >> this is a promise to turn the conversation into actions. >> if there is a step we can take that will save even one child, we should take that step. >> the lecturer in chief returns to the east room of the white house today to explain something to congressional republicans that previous presidents have not had to explain to congress. >> i want to be clear about this. the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it simply allows the country to pay fo
spending problem go unresolved. president obama said he is open to discussing deficit reductions, but only after congress first pay this bills that the country already owes. >> the federal government takes a larger chunk of paychecks. that's because during the fiscal cliff debate, congress allowed a temporary cut in social security taxes to expire, mean that social security taxes have increase thousand by 2%. economists anticipate the payroll increase tax hike will reduce u.s. house hold incomes by a collective $125 billion this year. >>> a another brutely cold night and into tomorrow morning. it is going to be freezing and below freezing once again. a look here at the pattern. we remain with the trough to the east of us. a ridge of high pressure to the west, but this ridge is slowly nudging east, and eventually, by midweek wednesday and lasting into the weekend, it will be overis, and that is going to bringis warmer weather. so warmer weather on the horizon, it's not going to be here in time for tomorrow morning. tomorrow morning very cold once again. lows sinking back into the 20s and 30
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